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beer and smoking pot on the lunch hour, it shouldn't counts. >> as a former michigan resident i have to say there's nothing new. >> brenda: i wish they were as effective on the auto line. there we go. >> . >> neil: fox on top. >> union strong arming over the top. united auto workers threatening to pull hundreds of millions from jp morgan from bank accounts and keeping people in michigan. keeping people in homes they can't afford, isn't that what got us in the huge mess in the first place. hello, i'm charles payne in for neil cavuto. to benstein, adam, the taxes getting stronger and tougher every week, what's up with that. >> there was a dictator in argentina named juan peron and
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he had a system peronism which was dictatorial. i'm not saying that obama is dictatorial, but a strong arming government along with unions to control the rest of the country and what we're seeing here is a kind of beginning of peronism where the government works with the unions to try to circumvent the law of contract which is by the way circumventing the confusion and trying to control the country by sheer force of numbers and force of fear and there's a very, very dangerous situation. >> it is a dangerous situation. and dagen, you know, ben talks about the numbers, but also the fear aspect of it. remember, the recently sciu some sort of a beat down of a guy there one of these meetings and the intimidation factor, we have it right there, whether economic or physical seems to be becoming more intense every single week. >> right, because the unions are getting their mo-jo back because they have the right people in the white house who were in their favor and their ranks are growing in the public sector, more public
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sector union workers than the private sectors. kudos to jp morgan chase, if that bank stands up to this extortion tactic, that's what it isment and the irony is, the michigan economy would not be in the shape that it's in if the unions hadn't in large part put the auto business on the rocks, into bankruptcy because of these high paying benefits packagesme. so let the unions pay the mortgages if they're worried about the people in michigan. >> the interesting thing, wall street gets all of the blame and the banks get all of the blame, but here we have the union saying, we want you to do the same reckless thing that the president keeps saying you did was reckless, but don't be reckless. the hypocrisy. how do you feel about wall street with hypocrisy. >> dagen brings up good points. call it how it is, the uaw is in no position, and if those banks are forced to subsidize
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how are they going to lend as much money to small businesses which ultimately leads to economic recovery? right now, the white house has failed the people. and right now, they want the uaw to pull something like this? i mean, it's just not going to work and people are going to be irate about it. >> adam, just from a purely business point of view, these loans are baden a things are foreclosed all over the country, is it smart for the uaw to want this to happen? >> well, given how this conversation has gone so far, charles, i'm surprised you want to have a business conversation. i'm certainly not going to get into demonizing the unions which i think is irresponsible or demonizing banks which doesn't make any more sense. charles, money talks, the unions are in control of some hundreds of millions of dollars of deposits in this case. and what, i can't remember if it was tom or ben or dagen who called it extortion. that's a silly word to use in a-- >> why is that a silly word? i'm not finished, i'm not finished, extortion goes on every single day on wall
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street. if you want to use that word. i've got the money if you want it, do what i want you to do. there's nothing more than that going on here. >> well, let me ask you this-- >> yes, there is, yes, way more than that, way more than that, adam. >> you're comparing obama to juan peron, ben? how-- >> yes, because they have the government on their side. it'd be different-- hedge funds trying to get money out of somebody else, with hedge fund money and uj had taxes that's one thing. using the power of the government-- >> and hedge funds on their side with the donations they make i've got the government on my side because i've got a congress woman. >> a congress woman is not the same as the president. congress woman is not the same as the president. >> tom, how about the idea the unions, the argument that unions have the white house on their side might be vice versa, maybe the unions are going to defending the white house themselves and lends credibility to what ben was saying, what do you think about that, tom. >> listen it's time for the
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union to own up to the role of causing the collapse of the american auto industry facing foreign competition. >> they're never going to do that. >> of course they're never going to do that. >> how they singlehandedly brought down the auto companies, is that what you're saying. maybe martians are going to land in detroit next week. >> and paying benefits packages that the union extracted from the automakers had nothing to do with the financial strength and bankruptcy, both the chrysler and gm wound up? what planet are you living on? planet, planet lachinski? >> not planet mars, tague. did jp morgan chase make good loans here? no, bad loans here and they want to foreclose on them. that would be the best thing for them obviously. maybe it would be the best thing for the people in them to move on with their lives. that's a philosophical thing, but if somebody can figure out a way for them to stay in their homes, i just want to point out we've been doing this for two years now in all sorts of instances all around
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the country, various interest groups trying to persuade the banks to delay foreclosures. >> we had to do-- >> and you cannot credit right now. >> the uaw is essentially part of the government at this point. the uaw is essentially part of the government and works together, has enormous control over anything they touch. >> tom, here is the thing, okay, we're talking from an economic point of view, adam already admits this is not a bright thing to do and yet, even, all the efforts so far have been mostly friendly gestures, the strong are arming doesn't this back fire and won't they retrench further with this sort of passage? >> absolutely, this is not the time to go back to freezing mortgages. i mean, you cannot do that. i mean, we have to right now, the main objective is to give credit to small businesses. that's, that's what we have to do right now because that's going to create jobs and rebuild america, we can't go back to the old ways, it's not going to work. >> in terms of another irony, another union oorny, a group of unions that was campaigning
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not long ago in michigan, a better michigan future, advocating uns had of millions of dollars in tax incrests in the state. >> increases? >> they want higher taxes to fund what they deem as suitable spending so that would be really great for the michigan economy. of course, the legislature voted it down. >> all i've got to tell you, i bet someone wakes up next to a horse's head next to them, but it won't be you, adam, won't be you. immigration going to new levels on capitol hill. >> this is america, i don't want a tomato picked by a mexican, i want it picked by an american, then sliced by gaut mallen and serve by a venezuelan in a spa where the chilean gives me a brazilian. >> well, if those protesters get their way in washington, stephen colbert's wish just might come true. yellowbook has always been good for business.
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fedex ground. >> from america's news headquarters, i'm jamie colby. new details about the bomb threat that forced the emergency landing of a plane that was coming from pakistan. the plane headed actually to pakistan. it made an emergency landing in stockholm, sweden after police got a tip that a passenger aboard was carrying
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explosives. investigators saying the tip was called in by a woman in canada and police are questioning a canadian citizen aboard that plane. they say he was not though on an international no-fly list. and president ahmadnejad arrived back in iran this morning after another controversial appearance before the u.n. general assembly in new york this week. the iranian leader claiming the 9-11 attacks were orchestrated by the u.s. and president obama condemning the remarks as offensive and hateful. and fox news eric shawn sits down with president ahmadnejad check it out tomorrow 11 a.m. on fox. >> congress punting on tax cuts, but they had time for this. >> i certainly hope that my star power can bump this hearing all the way up to c-span 1. america's farms are presently far too dependent on immigrant labor to pick our fruit and vegetables. now the obvious answer is for all of us to stop eating fruits and vegetables. and if you look at the recent
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obesity statistics you'll see that many americans have already started. i think there are way too many undocumented mexican workers in the united states doing jobs and i think we've ignored the issue too long and it's time to roll up our sleeves and face this issue mano and whatever the spanish word for mano is. >> and stephen colbert putting it front and center and the-- there are americans are in need of jobs, what does it mean, all this attention on illegal immigrants. >> it's astonishing they would be pushing this agenda right here, right now when we have unemployment in this country at close to 10% with this so-called dream acts that the congress woman was referring to that would give legal status to people who go to college here and lets people who came here illegally and are in this country illegally
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jump potentially ahead of people who aren't and higher paying jobs that doesn't make sense on so many levels. >> the addage and reason that we didn't want to upset the apple cart was that you know, these illegals, they do jobs that americans don't want to do, but we're talking about gidget them into college and citizenship. americans want the jobs to come with a college degree. >> it's a complicated issue, but i can tell you as a son of immigrants, i'm all for giving an opportunity to immigrants, but if you give that opportunity to illegal immigrants you ever a' taken the same opportunity away from the legal immigrants. >> and americans. >> sure. >> and americans, i mean, what do you make of that, what, all of a sudden, there's just so many overtures to illegal immigrants. what's the deal with this? >> the main thing i kept thinking when i was watching stephen colbert was two things, one the great stevenson heim song, send in the clowns and listing him and
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him, and it's unbelievable they would have a comedy act on capitol hill when there's so much serious business going on and comment from richard nixon, most congressmen are not fit to be dog catcher. it's incredible they had this guy there talking about a serious issue in a comedic tone. they don't have a lot of time and they're busy people and don't have time to listen to comedy. he's a brilliant comedian and i love him a lot, but it's a serious issue. >> you're right. speaking of time, america doesn't have a lot of time for what could be the biggest tax increase in history, adam. and yet, this is the number one issue they're dealing with right now. >> taking time to bring it to the serious issue. president george w. bush was in favor of an amnesty for illegal aliens, anyone who gives any serious thought to this topic instead of trying to make a lot of noise about it, and scare people about it, knows that we need to do something about the 11 or 12
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or however many illegal-- >> one second, adam. >> one second, we would like to just, adam i'll let you back in, i'd like to make a point. you mentioned 11 million illegals. what about the 27 million americans unemployment, underemployed watching the show right now? do you have any sympathy for them? >> you know, charles. of course i do and the point of the bill as i understand it, it didn't pass, by the way, was to reward people who get a college degree and say, okay, those would make pretty good americans and as would people capitalists who are believers in the free enterprise system, charles. we doesn't have anything to fear from people with a college degree. >> and compete against them for jobs. >> listen, dagen, here is the deal. >> the bill is not dead by the way. might not be dead. reid talking perhaps about bringing it back and the issue won't die, won't go away and reid's locked into a tough fight himself and maybe the mexican vote and the bottom might put them over the top, but at what cost to america in
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general? >> if you need more-- >> the mexican-american vote i'm sure. >> if you need anymore evidence that the democrats in congress are-- their ideas and their tenders are totally misplaced look at this. why not focus on finding jobs for the people, the 20-some million americans who are underor unemployed. i can go on. the extension bush tax cuts. let's have that. this is the priority entertaining stephen colbert and yucks at him and costs $125,000. >> quickly, tom are father game here, was there anything special, grab himself by the boot straps. >> he fought in the trenches, he built his business the old american way, getting up every day and going to work and at this point like dagen says we've got to get back to the priorities on hand. finding people work. >> all right, thanks, well, you think washington is spending now? the forbes gang say get ready for a lame duck spending spree after the election.
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details on that at the top of the hour. next, forget michael douglas the real star of the wall street movie is here and that's right, but playing a bad guy? our good guy is playing a good guy, and. >> going to make three times the money and better yet we all love the most, big year end bonuses. host: could switching to geico really save you fifteen percent or more on car insurance? . mary: does this dress make my backside look big? abe: perhaps... save you fifteen percent or more on car insurance?really host: is having a snowball fight with pitching great randy johnson a bad idea? man: yeah, i'm thinking maybe this was a bad idea.
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>> coming up. money never sleeps and neither do the attacks on wall street in the blockbuster sequel.
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>> well, 23 years after declaring greed is good,
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gordon gekko is back saying greed is still wood. in the wall street squeal, "wall street money never sleeps" the attack on wall street never stops and this time our own tom. >> i don't think that's a risk we should be taking right now. >> wait. >> wait for what, your beam me up scotty. >> you're not talking about something else, come on, apples and oranges. >> really. the deal we sank 50 million dollars into. >> alternative energy for biotech was 15 years ago, stan. >> by the time your professor-- >> this coming from the guy who said that google was a bubble. >> could that movie end up hurting the image of those rich wall streeters with some of the damage done by this rich wall streeter, tom, say it ain't so. >> absolutely not. i mean, this is strictly for entertainment, charles. you know, it's not a documentary, you cannot bet, you know, against an industry that's helped create america, it's like betting against google, apple, coca-cola.
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i mean, that's just not the way it, would. every industry has its bad apples, so-- >> what are you talking about? this movie is going to make working on wall street cool again. everybody wanted to be gekko, be a bad ass, but you know what, forget the slicked back hair, it's about the bald. >> it's all about the bald. and i want to go to you, ben, 0en this. you were critical of goldman sachs and young traders a long time before they became public enemy number one. what do you think the movie is going to do. obviously in my mind there's a lot of vilification going on. i don't think it's going to make it look better. >> people want money and if it shows people getting money. i criticize wall street all the time and it's merited. the only guys i work with closely on wall street are my two brothers at merrill-lynch and unbelievable nice guys, i had pneumonia, they, not fox,
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sent me flowers. [laughter] >> i'm going to leave a note here on neil's desk so he knows you did not get those flowers that he sent to you. >> right. >> 'cause that was there when he put the order in. >> and wall street sent them to me. >> i didn't know you were sick, so-- that's my excuse. >> adam, listen, you're like, you're a capitalist, but maybe i would call you a social capitalist, in other words, you seem to always be on the side of the regular people and a lot of times these days that means anti-wall street. do you think that's the case still? >> well, i'm not an enemy of wall street. i mean, i make my living writing partly about, about wall street. i think on the one hand, tom is kidding himself that this movie doesn't set out to vilify wall street. that's exactly what oliver stone set out to do. dagen is right, certain people will see this and say, i want to wear a suit and have a shaved head like that guy. i want to be just like him. so, i don't know, i mean, wall street's reputation can't get much worse right now. charles.
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i don't think a movie is going to-- >> i tell you what the first movie influenced me greatly and after i see the movie tonight next time you see me i'll be bald. speaking of that, tom, i understand the first time oliver stone called you he called you a greek warrior. >> that is correct. >> i thought daddy war bucks the first time i saw you, a greek warrior. >> young, young. >>. >> oliver is a great person and correct on saying that wall street is a great venture for capitalism, but unfortunately some people saw more money in speculation and that's why, you know, people in this movie who are villainized deserve to be villainized and at the end of the day, people will understand that wall street is a great place for people who do great things for america. >> on that note though-- >> oliver stone is a really great person, just quoted saying we blamed hitler too much, and the jews, aces to stone for standing up for hitler, aces to you, oliver. >> one they think i want to say, dagen, what this whole
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vilification stuff. it does seem like it's going on and that it's at the heart of what's wrong with the nation right now. we can't heal ourselves because there's an always a villain. wouldn't wall street be smart to somehow tell the rest of the world, listen that factor going to today in des moines, iowa. we helped build that factory. should they go on the offensive at all. >> they're going on the offensive they're out there lending money and people know if you're running a business, that's where you go. whether you're going to capital markets or looking for a loan. the american people are smarter than that. maybe a few are trying to vilify them. they know we're all in this together. >> i hope so. >> a fool and his money are looking to get together in the first place, better have a line that good. >> speaking of money, money never sleeps and our gurus are coming up with winners for you. .
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profits that never sleep from the tireless stock pickers. ad adam, what do you have? >> dell. something has to give here. a new ceo or buy-out or hit product, only one direction for dell, that's up. >> ben, what do you think of that? >> i love dell and many of their computers but they're getting a tiny reputation being behind the curve quality wise compared to other makers and i think they have to work on that. that is just a whisper thing i hear. if they address the quality issue, they will address the profit issue. >> what do you like? >> index funds, vt, the vanguard total world stock park index.
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had problems because of the crash in europe but over long period of time, it tends to outperform managed fund or individual pick. >> is this the stock he picked in the movie that you browbeat him on? >> no. i wouldn't bet overseas. it'd bet in america, bet with america. i like apple computers. they just rolled out the ipad in china and beat earnings for 20 quarters. this beginning of the high on the stock, if not hit there and going higher. >> what is your target? >> there would be two for one stock split. it could go past $350 mark. >> you love chasing stocks. what do you think of this idea? >> well, split is meaningless to value of the company. fantastic company but only has one direction to go, down. at some point the competition will catch up to apple.

Cavuto on Business
FOX News September 25, 2010 10:30am-11:00am EDT

News/Business. Neil Cavuto and market analysts discuss financial issues and forecasts. (CC)

TOPIC FREQUENCY Michigan 5, Apple 4, Stephen Colbert 4, Dagen 3, Oliver 3, Dell 3, Washington 2, Juan Peron 2, Obama 2, Pakistan 2, Tom 2, Bet 2, Oliver Stone 2, Michael Douglas 1, Canada 1, Mexican 1, Iran 1, New York 1, Sweden 1, Randy Johnson 1
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